Lagos - The Nigeria Extractive Industries Transparency Initiative (NEITI) has accused oil and gas companies operating in Nigeria of evading taxes in excess of about N1.47 trillion ($9.8 billion).
The amount, which was supposed to have been remitted to the federation account, was discovered by the body in its latest audit, reports New Telegraph.
The unremitted revenue came from under-payment of taxes and rents, under-assessment, process manipulation and poor management of agreements between the Federal Government and different companies.
Read more at New Telegraph.
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